Earnings Per Share [Text Block] |
| | | | | | 3. | Earnings (Loss) per Share |
Basic and diluted earnings (loss) per share are calculated as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (in thousands, except share and per share data) | | 2020 | | 2019 | | 2020 | | 2019 | Net income (loss) | | $ | (6,046) | | | $ | 10,029 | | | $ | (53,595) | | | $ | 38,435 | | Less: Additional common stock issued to Series G shareholders | | — | | | (37,456) | | | — | | | (37,456) | | Less: Net income allocated to participating securities (1) | | — | | | — | | | — | | | (979) | | Net (loss) income attributable to common stockholders | | $ | (6,046) | | | $ | (27,427) | | | $ | (53,595) | | | $ | — | | | | | | | | | | | Basic weighted-average common shares outstanding | | 27,459,192 | | | 4,294,107 | | | 27,237,246 | | | 3,397,503 | | Weighted average effect of dilutive securities: | | | | | | | | | Stock options | | — | | | — | | | — | | | — | | Restricted stock units | | — | | | — | | | — | | | — | | Warrants | | — | | | — | | | — | | | — | | Diluted weighted-average common shares outstanding | | 27,459,192 | | | 4,294,107 | | | 27,237,246 | | | 3,397,503 | | | | | | | | | | | Earnings (loss) per share: | | | | | | | | | Basic | | $ | (0.22) | | | $ | (6.39) | | | $ | (1.97) | | | $ | — | | Diluted | | $ | (0.22) | | | $ | (6.39) | | | $ | (1.97) | | | $ | — | |
(1) In a period of net income, both earnings and dividends (if any) are allocated to participating securities. In a period of net loss, only dividends (if any) are allocated to participating securities.
The following common share equivalent securities have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2020 | | 2019 | | 2020 | | 2019 | Stock options | | 4,462,158 | | | 4,571,154 | | | 4,352,649 | | | 4,705,200 | | Restricted stock units | | 2,331,678 | | | 1,325,166 | | | 2,120,068 | | | 779,776 | | Warrants | | — | | | 24,880 | | | 13,866 | | | 24,933 | | Convertible preferred stock | | — | | | 16,266,773 | | | — | | | 16,886,597 | | Total anti-dilutive common share equivalents | | 6,793,836 | | | 22,187,973 | | | 6,486,583 | | | 22,396,506 | |
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